Senate To Vote On Bailout Tomorrow; Obama, McCain To Return

September 30, 2008 / 8:15 PM
/ The Politico

The Senate will take up the bailout package tomorrow, aides in both parties' leadership offices tell Crypter Marty Kady. Other Crypter Amie Parnes reports that John McCain (R-Ariz.) is likely to return for the vote, scrapping plans for a Louisiana fundraiser. A McCain source tells Parnes "it's his intention" to return.

The proposal will be taken up along with a renewable energy tax credit extension. Aides say the bill will include an increase in the amount of deposits insured by the FDIC from $100,000 to $250,000 -- a provision called for by Sen. Barack Obama (D-Ill.) and earlier offered by House Republicans.

The vote is scheduled for 7:30 pm tomorrow night, after sundown, respecting the Jewish holiday. The chamber will also vote on a millionaires' surtax proposed by Sen. Bernie Sanders, a Vermont independent who caucuses with Democrats.

UPDATE: McCain spokesman Tucker Bounds confirms to Parnes that McCain will be on hand to vote.

The Senate will vote on the economic rescue plan tomorrow night after a series of stacked votes starting at 7:30.

The structure is this:

The Senate will call up H.R. 1424, the text of which will be substituted with the economic rescue plan (a Dodd amendment which must have the consent of both the Majority and Minority Leaders). The only other amendment in order will be a Sanders amendment that will be handled by a voice vote.